*marketing definitions and strategies part2
Sunday, March 22, 2009
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first strategy: productWhen an organization introduces a product into a market there are many question will be asked as ,
1-What is the product aimed at?
2-What are the benefits will they expect?
3-How organizations plan to position the product within the market?
4-What are the differential advantages will the product offer over their competitors?
Kotler said that the product should defined in three levels which are :
a-Core Product: What is the core benefit your product offers?
b-Actual Product: The strategy at this level involves organizations branding, adding features and benefits to ensure that their product offers a differential advantage from their competitors
c-Augmented product: what additional non-tangible benefits can you offer? Competition at this level is based around after sales service, warranties, delivery … etc
There is an important point in the product which is branding name
Brands names have the power of instant sales; they convey a message of confidence, quality and reliability to their target market.
Brands names have to be managed well, as some brands can be cash cows for organizations. In many organizations they are represented by brand managers, who have huge resources to ensure their success within the global markets
second strategy :pricing
Pricing strategies are based much on what objectives the company has set itself to achieve.
Then we have now some types of pricing strategies are the following:
Penetration pricing: organization sets low price to increase sales and market shares.
Skimming pricing: organization sets prices in compare with other org, or comp,
Product Line Pricing (plp): example for Plp a computer manufacturer offering different computers with different features at different prices. The greater the features and the benefit obtained the greater the consumer will pay. This form of price discrimination assists the company in maximizing turnover and profits.
Psychological pricing: the seller will position of price within the market place. The seller will charge 99p instead £1 or $499 instead of $500
Bundle Pricing: The organization bundles a group of products at a reduced price.
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Judul: *marketing definitions and strategies part2
Ditulis oleh Unknown
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